Mortgages 9 | Paper Source Online

FHFA: Desktop Appraisals to Become a Permanent Option

Investments, Mortgages / By W. J. Mencarow

Published by REALTOR Magazine | October 19, 2021 The physical presence of an appraiser is no longer necessary to determine a home’s value. The Federal Housing Finance Agency will accept appraisals conducted remotely—without the physical presence of an appraiser—starting in early 2022 for qualifying Fannie Mae– or Freddie Mac–backed mortgages. The government-sponsored enterprises will use …

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What the New December Debt Ceiling Deadline Means for Mortgage Rates

Interest Rates, Mortgages / By W. J. Mencarow

Published by FOX Business | October 8, 2021 The new debt ceiling extension will fund the government through Dec. 3 The Senate passed a temporary extension of the debt ceiling Thursday night in a 50 to 48 vote, giving the government enough funds to make it through December. The House of Representatives is expected to pass the …

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Biden Admin Extends Additional Mortgage Relief Options for FHA Loans

Covid-19, Mortgages / By W. J. Mencarow

Published by FOX Business | September 30, 2021 The Federal Housing Administration (FHA) has announced new forbearance options for homeowners who are struggling to make their mortgage payments. The Department of Housing and Urban Development (HUD) and the Federal Housing Administration (FHA) announced Monday the extension and addition of new COVID-19 mortgage relief options for homeowners with …

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Biden Releases Plan for 100K Affordable Housing Units in 3 Years

Mortgages / By W. J. Mencarow

Published by Florida Realtors | September 1, 2021 A cross section of federal agencies tinkered with policies in an effort to boost affordable housing and the middle class, according to the White House. For example, homesteading buyers will have more exclusive time (30 days) to buy foreclosed homes under FHFA. The Biden Administration announced a …

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These Housing Markets Need Just a 10% Down Payment

Mortgages / By W. J. Mencarow

Published by FOX Business | August 15, 2021 Peoria, Illinois ranked the most affordable housing market. The demand for homes has continued, driven by low inventory levels and record-low mortgage rates. According to the National Association of Realtors latest quarterly report, all but one of 183 markets have shown increased median sales prices. The report also revealed that 94% experienced …

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FORBES: Housing Boom Will End When Mortgage Rates Rise In 2022

Mortgages / By W. J. Mencarow

Published by Forbes | July 27, 2021 There is no bubble to burst, though prices may retreat from panic-buying highs. The current housing boom will flatten in 2022—or possibly early 2023—when mortgage interest rates rise. There is no bubble to burst, though prices may retreat from panic-buying highs. The boom produced some frantic buying, bids …

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White House Unveils New Measures to Stave Off Foreclosures

Covid-19, Mortgages / By W. J. Mencarow

Published by FOX Business | July 23, 2021 Pandemic relief programs for homeowners are set to expire in coming weeks, months The Biden administration has unveiled plans to expand aid for homeowners with government-backed mortgages, an effort to stave off a wave of foreclosures for Americans who fell behind on payments during the coronavirus pandemic. …

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Mortgage Costs Grow 20 Times Faster Than Incomes

Mortgages / By W. J. Mencarow

Published by REALTOR® Magazine | July 13, 2021 Housing affordability continues to decline as the hot real estate market fuels skyrocketing prices. Incomes aren’t keeping pace with the higher prices. The median family income rose by 1.2% in May while the monthly mortgage payment jumped by 20%, according to the National Association of REALTORS®’ Housing …

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Home Prices Rise at Fastest Pace Ever

Mortgages / By W. J. Mencarow

Published by Breitbart | June 29, 2021 Home prices in April jumped 14.6 percent compared with a year ago Home prices in April jumped 14.6 percent compared with a year ago, up from a 13.3 percent rise in March, according to an updated report by the S&P CoreLogic Case-Shiller National Home Price Index. This is …

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Supreme Court Leaves CDC Eviction Ban in Place Through July 31

Covid-19, Mortgages / By W. J. Mencarow

Published by The New York Post | June 29, 2021 The Supreme Court has ruled that a moratorium on evictions imposed by the Centers for Disease Control and Prevention due to the coronavirus pandemic can remain in place through the end of July. The Court ruled 5-4 to reject a request by a group of …

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